Charities, Old People, Jews Hit Hardest by Madoff Fraud UPDATED

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Information is still trickling out about who lost money (and how much) with Bernard Madoff, the legendary New York investor whose sons turned him in to authorities last week after he admitted that the investment arm of his securities firm was “a giant Ponzi scheme.” But as the SEC sifts through the rubble of his midtown office, a list is taking shape that gives some idea of the magnitude of Madoff’s crime. What’s truly heartbreaking is that it’s not just deep-pocketed giants like Steven Spielberg and Swiss banks who lost out, but charities — several have already shut their doors and fired their staffs — and a crowd of pastel-panted Palm Beach senior citizens whose dreams of living out their days on the golf course have been dashed. Below, a list of known victims so far, which we’ll try to update as they rollin.

Access International Advisers, New York-based investment firm may have lost $1.4 billion in assets, according to Bloomberg.Aozora Bank Ltd. The Japanese bank had 12.4 billion yen ($137 million) invested with Madoff, according to Bloomberg.Banco Santander – Spanish bank reported yesterday that clients of one of its Swiss subsidiaries have lost $3 billion.Banque Bénédict Hentsch – $47.5 million worth of client assets at risk.Basically everyone at the Palm Beach Country Club – Madoff has belonged since 1996. “I’m taking care of my sick mother-in-law,” one member, Richard Spring, 73, told the Times. “My wife has cancer. I just can’t deal with it. I’mcooked.”

Bank Medici The Austrian bank has two funds with a combined $2.1 billion invested with Madoff. BBVAThe second largest bank in Spain; potential $404 million in losses, according to BloombergBenbassat & Cie Swiss bank has 1.1 billion francs, or $935 million, at .stake, according to la France via Reuters.BNP Paribas – Did not invest directly in the Madoff funds but has 350 million euros, or about $500 million, at risk through trades and loans to hedge funds. Bramdean Alternatives – British asset manager lost $19 million, or 9 percent of the company, according to a statement. The female CEO is being pilloried in the press: “I am an ordinary person who manages pension funds for pensioners. If I was a male fund manager this would not happen. Someone has to take a stand. If women are persecuted in this way you won’t have any female fund managers. This could destroy me,” she told the Evening Standard. Carl & Ruth Shapiro Family Foundation – 99-year-old Boston philanthropist Carl Shapiro’s foundation lost $145 million, almost half its money, according to the Boston GlobeClal Insurance Israeli insurance company, $778,000, according to BloombergChais Family Foundation – Gives out some $12.5 million each year to Jewish causes in Israel, the former Soviet Union, and Eastern Europe; announced yesterday that it had closed after losing all of its money through investments with Madoff.CNP Assurances The French insurance company could lose up to $4.1 million, according to BloombergElie Wiesel Foundation for Humanity – Invested money with Madoff — its losses are thus far unknown.EIM Group – European investment manager has $230 million exposed.Dexia SA The Belgian financial had $106.9 million wrapped up with Madoff, according to BloombergFairfield, Conn. – $42 million, or 15 percent of the town’s retiree pension fund.Fix Asset Management $400 million. Fortis Bank Netherlands $1.4 billion at risk, despite lacking direct exposure to Madoff’s firm, according to the AP.Madoff employees – “Generations of employees had worked for Madoff and invested their savings there.”Fred Wilpon – New York Mets owner, unknown.GroupamaFrance-based international insurance group, $13.6 million, according to Bloomberg.Harel Insurance – Israeli investment service, $14.2 million.HSBC – $1 billion at risk.Avram and Carol. Goldberg – The Boston-based founder of the Stop & Shop supermarket chain and his wife lost $29 million, according to reports.J. Ezra Merkin – The GMACLLC chairman’s Ascot Partners lost most of its $1.8 billion, according to the Journal.Jewish Community Foundation of Los Angeles – $18 million of the Foundation’s Common Investment Pool (currently valued at 11 percent of its assets) was invested with Madoff.The JEHTFoundation As commenter Sleater noted below, the JEHT Foundation, a nonprofit in downtown New York that promoted reform of the criminal and juvenile justice systems, has been felled by Madoff and will close, according to its web site, at the end of January 2009. According to the Web site: “The funds of the donors to the Foundation, Jeanne Levy-Church and Kenneth Levy-Church, were managed by Bernard L. Madoff, a prominent financial advisor who was arrested last week for defrauding investors out of billions of dollars.”Julian J. Levitt Foundation – Texas-based Jewish charity, lost about $6 million.Kingate Management Ltd. – $3.5 billion at risk, according to Bloomberg.Korea Life Insurance Co – $50 million.Korea Teachers pension – Has $9.1 million indirectly invested.Leonard Litwin The 93 year old real estate mogul has lost an as yet undetermined amount of money. This is not his only loss this year –Litwin narrowly missed making the Forbes 400 Richest Americans list and instead ended up on the “82 American billionaires too poor to make the list” list. The Madoff Family Foundation – Madoff’s own charity gave to the Memorial Sloan Kettering Hospital, Leukemia and Lymphoma Society, Lincoln Center, Robin Hood Foundation, and others. Its $19 million is gone, obviously.Man Group PLC – The world’s largest publicly traded hedge-fund manager, $360 million.Maxam Capital Management – Darien-based hedge fund helmed by Sandra “Jerry Maguire of hedge funds” Manzke lost $280 million. “I’m wiped out,” Manzke told the Journal.M&B Capital Advisors – Spanish hedge funds had $578 million invested.Mediobanca Italian investment bank, $671,00, according to Bloomberg.Mirabaud & Cie. Lost “a few million Swiss Francs” according to Reuters via Le Temps.Mort Zuckerman’s charitable trust Losses stand at $30 million, or 10% of the trust. “That was still a big chunk of money that was intended to go to worthier causes than shall we say Mr. Madoff,” said Zuckerman in an interview with CNBC.Mitsubishi UFJ Financial Group Inc. $11 million.Natixis The French corporate and investment bank could lose up to $614 million, according to Bloomberg. New Jersey Senator Frank Lautenberg – “One of the wealthiest members of the Senate, entrusted his family’s charitable foundation to Madoff. Lautenberg’s attorney, Michael Griffinger, said they weren’t yet sure the extent of the foundation’s losses, but that the bulk of its investments had been handled by Madoff.”Nomura Holdings Inc. – Tokyo investment firm; said today it had $302 million in exposure.Norman Braman – Former Philadelphia Eagles owner, unknown.The North Shore-Long Island Jewish Health System – $5 million.Notz, Stucki & Cie International portfolio management group; undetermined amount, according to Bloomberg. Neue Privat Bank – Acknowledged being at risk.Oak Ridge Country Club members A few members of this predominantly Jewish country club in Hopkins, Minnesota have lost perhaps almost $100 million, according to the St. Paul-Minneapolis Star Tribune. Pioneer Alternative Investments – Irish hedge fund invested all of its $280 million in assets with Madoff — gone.Phoenix Holdings According to Reuters, the insurance unit of this Israeli bank had $15 million invested in funds managed by Thema that followed Madoff’s investment strategy.Robert I. Lappin Charitable Foundation – The Boston-based charity, which financed trips for Jewish youth to Israel, announced last week: “The money needed to fund the programs of the Lappin Foundation is gone. The foundation staff has been terminated today.”Royal Bank of Scotland – $600 million exposed.Royal Bank of Canada Less than $40 million ($50 million Canadian). Societe Generale – The French bank lost less than $13.46 million dollars, which it called a “negligible” amount.Sumitomo Life Insurance Co. The Japanese company had $22 million (2 billion yen) involved, but put their losses at only “several hundred million yen” according to AFP.Technion The Israel Institute of Technology in Haifa could lose $6.5 million. Tremont Capital Management This advisor to hedge-fund portfolios has CNMV has not yet revealed their names, but as of October 31, they had a combined 106.9 million euros directly exposed to Madoff. Reichmuth’s Reichmuth Matterhorn fund – 385 million Swiss francs, or $327 million, in potential losses. UniCredit SpA The Italy based cross-European banking company has a potential $102.5 million involved, though the company told Corriere della Sera, the Italian newspaper, that “exposure…was ‘equal to zero’ in Italy and ‘very limited’ overall.”Union Bancaire Privee Swiss asset management bank, $1.08 billion. Yeshiva University – “Sources close to Yeshiva University, where Madoff served as treasurer of the board of trustees and chairman of the board of Y.U.’s Sy Syms School of Business until he resigned last week, said that the school has lost tens of millions of dollars, if not more,” according to Jewish and Israel News.